Atico Mining Faces $29 Million Royalty Payment Ruling

Atico Mining ( (TSE:ATY) ) has shared an update.

Atico Mining Corporation has been ordered by the Center for Arbitration and Conciliation of the Bogotá Chamber of Commerce to pay approximately US$29 million in back royalties to the Colombian National Mining Agency for the El Roble property. This ruling, which affects Atico’s financial position and working capital, could have a materially adverse impact on the company, creating uncertainty about its ability to meet financial obligations. Atico plans to use proceeds from its unsold concentrate inventory to reduce the remaining balance owed.

More about Atico Mining

Atico Mining Corporation is a growth-oriented company focused on exploring, developing, and mining copper and gold projects in Latin America. The company generates significant cash flow through the operation of the El Roble mine and is developing its high-grade La Plata VMS project in Ecuador. Atico is also pursuing additional acquisitions of advanced-stage opportunities.

YTD Price Performance: 31.51%

Average Trading Volume: 20,751

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $11.82M

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